Franklin Liberty High Yield Corporate ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Wednesday for Franklin Liberty High Yield Corporate
(Updated on May 01, 2024)
The Franklin Liberty High Yield Corporate ETF price fell by -0.0428% on the last day (Wednesday, 1st May 2024) from $23.37 to $23.36. During the last trading day the ETF fluctuated 0.753% from a day low at $23.24 to a day high of $23.42. The price has been going up and down for this period, and there has been a 0.47% gain for the last 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -85 thousand shares and in total, 22 thousand shares were bought and sold for approximately $511.75 thousand.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Franklin Liberty High Yield Corporate ETF with a 90% probability to be traded between $23.10 and $23.63 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FLHY Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Franklin Liberty High Yield Corporate ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.42 and $23.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.553%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this ETF may have low liquidity in periods, which increases the general risk. The ETF had a Golden Star Signal on Friday, June 09, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Golden Star 12 Months
The ETF had a Golden Star Signal on Friday, June 09, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.
Support, Risk & Stop-loss for Franklin Liberty High Yield Corporate ETF
Franklin Liberty High Yield Corporate finds support from accumulated volume at $23.34 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0.175 between high and low, or 0.753%. For the last week the ETF has had daily average volatility of 0.446%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FLHY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Franklin Liberty High Yield Corporate ETF to open at $23.34, and during the day (based on 14 day Average True Range), to move between $23.25 and $23.47, which gives a possible trading interval of +/-$0.108 (+/-0.46%) up or down from last closing price. If Franklin Liberty High Yield Corporate ETF takes out the full calculated possible swing range there will be an estimated 0.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.37 (0.04%) than the support at $23.34 (0.09%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Franklin Liberty High Yield Corporate ETF ETF A Buy?
Franklin Liberty High Yield Corporate holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF.
Current score: -2.414 Sell Candidate Unchanged
Predicted Opening Price for Franklin Liberty High Yield Corporate ETF of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $23.34 ( 0.0928%) | $23.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FLHY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.51 | 0.656 % | |
| R2 | 23.45 | 0.370 % | ||
| R1 | 23.41 | 0.193 % | ||
| Current price: | 23.36 | |||
| Support | S1 | 23.27 | -0.379 % | |
| S2 | 23.23 | -0.556 % | ||
| S3 | 23.16 | -0.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.54 | 0.771 % | |
| R2 | 23.53 | 0.728 % | ||
| R1 | 23.37 | 0.0428 % | ||
| Current price | 23.36 | |||
| Support | S1 | 23.34 | -0.0856% | |
| S2 | 23.25 | -0.471% | ||
| S3 | 23.21 | -0.642% |
FLHY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 01, 2024 | Apr 01, 2024 | Apr 05, 2024 | $0.125 | 0.533% |
| 2 | Feb 01, 2024 | Feb 01, 2024 | Feb 07, 2024 | $0.132 | 0.561% |
| 3 | Dec 15, 2023 | Dec 15, 2023 | Dec 15, 2023 | $0.128 | 0.551% |
| 4 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.122 | 0.529% |
| 5 | Nov 01, 2023 | Nov 01, 2023 | Nov 01, 2023 | $0.134 | 0.606% |
FAQ
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